Author of the article: Fumbuka Ng Wanakilala and Matthew Hill
Publishing date: Jul 29, 2021  â¢Â 1 hour ago  â¢Â 6 minute read  â¢Â
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(Bloomberg) â Tanzaniaâs new President Samia Hassan won accolades from Aliko Dangote, Africaâs richest man, and fellow billionaire Mohammed Dewji for her business-friendly noises. But her governmentâs crackdown on opposition leaders this week is raising some concern.
Since she took office on March 19, Hassan â Africaâs only female head of government â has signaled a new business-friendly era, pledging to reverse her predecessorâs policies that antagonized investors and hit foreign investments. Hassan, 61, promised to dismantle barriers put up by former President John Magufuli and resurrect a $30 billion natural gas project, prompting Dangote and Dewji to say Tanzania seems to be opening for business again.
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Tanzania to Add Gold to Reserves, Resume $3 Billion Iron Project
Jun 14 2021, 9:30 AM
June 13 2021, 8:14 PM
June 14 2021, 9:30 AM
(Bloomberg)
(Bloomberg)
Tanzania launched a new gold refinery as its central bank plans to start buying the metal to diversify its reserves.
The Mwanza Precious Metal Refinery Ltd. is able to process 480 kilogrammes of gold per day, and plans to double the capacity in a few months, Tanzanian President Samia Suluhu Hassan said in a televised speech on Sunday. The nationâs State Mining Corporation has a 25% stake in the project, while Dubai-based Rozella General Trading LLC and Singaporeâs ACME Consultant Engineers PTE Ltd. own the rest.